Life Insurance

Life insurance is a basic building block of any solid benefits plan. It provides financial protection for your family or your business in the event of your premature death. Whether it is term life, permanent life or a more complex policy, we have the solutions to help protect you and your family.

Life insurance can be the foundation of your financial security and can provide comfort and stability for your family. The purpose of life insurance is to help provide your loved ones with financial protection after you die, in exchange for the premiums you pay to your insurer during your lifetime. Some life insurance policies can provide you with financial protection for the short term, while others accumulate cash value, offering a living benefit that can be used for supplemental retirement income, funding for a child’s education, or access to policy values for emergencies.

Managing the risks that can threaten your financial well-being is every bit as important as saving and investing toward your goals. Selecting the right insurance protection is a critical element of any comprehensive financial strategy. As your circumstances change, so do your needs. We review our clients’ entire insurance portfolio regularly to help minimize risk and maximize security.

We provide solutions from the country’s strongest and most trusted insurance companies.

Our broad range of insurance choices include:

Group Insurance Benefits: An added layer of security. At Creative Benefits, we’re committed to providing innovative solutions that help you and your clients build financial security for life’s “what if’s”.

Against a backdrop of rising healthcare costs and a competitive labor market, worksite group benefits play a critical role in an organization’s total rewards strategy. Contact us to learn more about our Group Whole Life, Group Universal Life, Group Critical Illness and Group Accident Insurance.

Critical Illness Coverage: Available at no additional cost to employers, and employees pay a fee only if they use the benefit. This living benefit gives employees the ability to receive a one-time advance, or acceleration of a portion of their death benefit that is paid in a lump sum, to help manage costs associated with a chronic illness.

Term Life Insurance: Term life insurance provides coverage for a set period of time at a generally lower cost than permanent insurance. Many term life insurance products allow you to convert to a permanent policy, such as whole life insurance. The cost of insuring oneself increases over time, so it’s important to understand your short- and long-term needs for financial security when you select a policy.

Permanent Life Insurance: Permanent life insurance provides you with financial protection for your entire life, as long as the policy remains in force. Because of the flexibility permanent life insurance offers, there are several types of policies you can purchase.

Whole Life Insurance: The benefits of whole life insurance include guaranteed fixed premiums, a guaranteed death benefit and guaranteed cash value growth. This means that with whole life insurance, your premiums never increase as long as they’re paid, and you can also take advantage of “living benefits,” which enable you to borrow against the cash value of the policy for any purpose while you’re alive. Borrowing cash from the policy can help in financing life-changing events or emergencies, and the policy’s cash value accumulates on a tax-deferred basis. One thing to keep in mind when purchasing whole life insurance is that loans reduce the death benefit of your policy, and loan interest should be repaid in order to prevent lapse.

Universal Life Insurance: Universal life insurance provides lifetime death benefit protection along with flexibility that gives you choices as your needs and finances change. It offers options such as coverage amounts that may be increased or decreased, and premiums that you can vary based on your finances as long as there is enough money in the account to pay for the monthly insurance and administrative charges.

Survivorship Life Insurance: Survivorship life insurance is a form of permanent life insurance that covers two people on one policy and pays a death benefit after both people on the policy have died. The cost for survivorship life insurance is usually lower than the cost of two individual policies.